The Financial Services (Designated Countries and Territories) (Overseas Collective Investment Schemes) (Guernsey) Order 1988

• Citation: S.I. 1988/2148
• Sections: 4

Section 1

This Order may be cited as the Financial Services (Designated Countries and Territories) (Overseas Collective Investment Schemes) (Guernsey) Order 1988 and shall come into force on 30th December 1988.

Section 2

The Bailiwick of Guernsey is designated for the purposes of section 87 of the Financial Services Act 1986 in respect of any collective investment scheme managed in and authorised under the law of the Bailiwick which is a scheme of a class specified in the Schedule to this Order.

Section 1

Any Class A1 scheme or Class A2 scheme which is also–

(a) a securities scheme; or

(b) a money market fund; or

(c) a fund of funds; or

(d) an umbrella fund but only an umbrella fund each separate part of the property of which would, if it were the property of a single collective investment scheme authorised in the Bailiwick of Guernsey, be the property of a scheme falling within sub-paragraph (a), (b) or (c) above.

Section 2

In paragraph 1 of this Schedule the expressions “Class A1 scheme”, “Class A2 scheme”, “fund of funds”, “money market fund”, “securities scheme” and “umbrella fund” have the meanings respectively given to them in Rule 1.02(1) of the Collective Investment Schemes Rules 1988 .